What is Lending Club and what makes it cool?
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P2P lending
Diversification
Cuts out middle man (traditional bank), lowers operating costs
Similar advantage as bank with low cost of capital
Uses technology to create seamless investor to borrower relationship
As it is an intermediary and not a loan institution, it doesn’t take on as much risk
Transparent borrower profiles allow investors to research themselves
Why join Lending Club?
You’re looking for someone who has experience at an investment bank or a fast growing tech company
–I have both. I’ve worked at Google (freedom, independence, culture) and three banks, First Republic
and Bank of the West, and Morgan Stanley. You want someone with a couple of years of FP&A and
management presentation experience—I have both. I’ve had direct relationships with the CFO of Virgin
America and Bank of the West’s CFO of Wealth Management.
Why change jobs?
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I want to move to a fast-paced and challenging environment
I want to move to a position of independence, for financial and personal development
I want to work at a company that takes on the startup vibe, without taking on the risks
associated with early startups (medium risk profile)
I want to return to tech environment of Google but I want to work in the financial services
industry
I want to ride the train of success
3 Statement Model
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Balance Sheet (Snapshot of company’s finances at a fixed point in time)
o Assets
o Liabilities
o Owner’s Equity
o Shareholder’s Equity = A – L + O
Cash Flow – Reconciling ending cash balance (Reflects liquidity)
o Starting cash balance
o Cash inflows and outflows
o CAPEX
Income Statement (Reflects profitability)
o Planning points
o Operating Revenue
o Operating Expenses = COGS + SGA(Selling, General, and Administrative expenses)
+Depreciation/Amoritzation
o Operating Income = Operating Revenue - Operating Expenses
o Net income = Revenue - Expenses